Sellers Are Pulling Listings and Buyers Aren't Blinking: What That Means in SE Michigan Right Now

The Standoff Is Real

Nationally, sellers pulled 5.8% of all home listings in April — tied for the highest rate since March 2020. That number tells you something important: sellers listed, didn't get what they wanted, and walked. Buyers are holding firm on price and sellers aren't ready to accept that reality. The result is a slow, grinding standoff happening in markets all over the country, including ours.

What the SE Michigan Numbers Actually Show

Here's where it gets local. Washtenaw County median single-family home prices sit at $434,918 right now. Oakland County is at $384,968. Livingston County comes in at $407,984. Wayne County is at $169,999, which reflects a very different price tier and a different set of market dynamics than the other three counties. These aren't small differences. A buyer priced out of Washtenaw might be looking at Livingston or Wayne County as real options — and sellers in those markets need to understand who their actual buyer pool is right now.

Equity Is Piling Up but Nobody's Moving

One reason inventory stays tight: homeowners across the country are sitting on record equity and still won't sell. Part of that is the rate lock-in effect — they bought or refinanced at 3% and have zero interest in trading that for a 7% mortgage. They're also not tapping that equity through HELOCs because rates on those are high too. In practical terms for SE Michigan, this means the same supply problem we've been dealing with isn't going away on its own. Listings that do hit the market get attention fast if they're priced right.

Pocket Listings Are Getting Squeezed

Connecticut just became the latest state to restrict private or pocket listings. Michigan hasn't moved there yet, but this is a trend worth watching. The argument is straightforward: when listings don't hit the MLS, buyers miss out on fair access to inventory. If you're a seller being pitched on an off-market sale as some kind of advantage, ask hard questions about who actually sees your home and what that costs you in final sale price.

Right now, the smartest move for sellers is honest pricing from day one. Overpriced listings are the ones getting pulled. Buyers have data, they're patient, and they're not panic-buying. If you're buying, the standoff actually creates some room to negotiate on homes that have been sitting — but well-priced, well-conditioned homes in Washtenaw and Oakland County are still moving. Know your county, know your price point, and have your financing locked before you make an offer.